Bandwidth (NASDAQ:BAND) PT Raised to $36.00 at JMP Securities

Bandwidth (NASDAQ:BAND) had its target price increased by analysts at JMP Securities from $32.00 to $36.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ price target would suggest a potential upside of 66.82% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. KeyCorp increased their price target on shares of Bandwidth from $21.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday. Barclays increased their target price on Bandwidth from $22.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday. Robert W. Baird boosted their price target on Bandwidth from $21.00 to $25.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Canaccord Genuity Group lifted their price objective on Bandwidth from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Bandwidth presently has a consensus rating of “Moderate Buy” and an average target price of $25.38.

Bandwidth Stock Down 4.3 %

BAND traded down $0.96 during trading on Wednesday, reaching $21.58. The stock had a trading volume of 390,323 shares, compared to its average volume of 346,933. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $566.91 million, a price-to-earnings ratio of -20.46 and a beta of 1.44. The stock’s 50 day moving average is $18.58 and its two-hundred day moving average is $14.85. Bandwidth has a one year low of $9.34 and a one year high of $25.02.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). The company had revenue of $165.00 million during the quarter, compared to the consensus estimate of $154.17 million. Bandwidth had a negative return on equity of 3.10% and a negative net margin of 2.72%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.04 earnings per share. As a group, analysts expect that Bandwidth will post 0.19 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Anthony Bartolo sold 7,798 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $18.75, for a total value of $146,212.50. Following the transaction, the chief operating officer now directly owns 76,469 shares of the company’s stock, valued at approximately $1,433,793.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 12,556 shares of company stock worth $239,567. Company insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Bandwidth

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Bandwidth by 3.0% in the third quarter. Vanguard Group Inc. now owns 1,480,343 shares of the company’s stock worth $16,683,000 after purchasing an additional 43,411 shares during the period. Palogic Value Management L.P. lifted its stake in shares of Bandwidth by 17.0% during the 4th quarter. Palogic Value Management L.P. now owns 300,000 shares of the company’s stock valued at $4,341,000 after buying an additional 43,675 shares in the last quarter. G2 Investment Partners Management LLC bought a new position in Bandwidth in the 4th quarter worth $4,079,000. Parcion Private Wealth LLC increased its stake in Bandwidth by 1.0% in the 4th quarter. Parcion Private Wealth LLC now owns 216,428 shares of the company’s stock worth $3,132,000 after buying an additional 2,153 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. raised its holdings in Bandwidth by 366.7% during the fourth quarter. Hussman Strategic Advisors Inc. now owns 147,000 shares of the company’s stock valued at $2,127,000 after acquiring an additional 115,500 shares during the period. 68.53% of the stock is owned by hedge funds and other institutional investors.

About Bandwidth

Bandwidth is a leading enterprise cloud communications company. Companies like Cisco, Google, Microsoft, RingCentral, Uber, and Zoom use Bandwidth’s APIs to easily embed voice, messaging, and emergency services into software and applications. Bandwidth is the first and only CPaaS provider offering a robust selection of communications APIs built around their own IP voice network.